At the Point of Intersection of Two Best-Response Curves, Each

question 51

Multiple Choice

At the point of intersection of two best-response curves, each manager is

• A) unable to achieve a higher payoff through any unilateral change of strategy.
• B) doing its part to reach a Nash equilibrium.
• C) total industry profit is maximized.
• D) each firm is making the greatest possible individual profit.

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Definitions:

Job Candidate

An individual who applies for or is under consideration for employment in a particular role or position.

Convince

To persuade someone to believe something or to take a particular action through argument or evidence.

Expand

To increase in size, volume, quantity, or scope.

Drives And Motivates

The internal and external factors that encourage individuals to take action and persist in achieving goals.